This was the logical thing to do to avoid more bad press in the USA.
It's not going to go down too great here in the UK (either for Obama or BP)
EDIT: I should point out, for those that don't know, BP dividends are pretty important to a big portion of UK pension funds. I'm not 100% certain how exactly this affects them, but it is not good (they have been teetering for a while due to the financial crisia as well). BTW, yes, I agree it is silly we rely on them so much.
The Times reported the other day that this could wipe out up to 1/3 of UK pension funds, and Robert Peston is was waffling about the fact it could be enough to collapse parts of the economy - I don't actually subscribe to that (I ran some of their numbers and it's nowhere near that bad IMO) but if you get Brits glowering at you for a few weeks it might be because they believed it :)
It's not going to go down too great here in the UK (either for Obama or BP)
EDIT: I should point out, for those that don't know, BP dividends are pretty important to a big portion of UK pension funds. I'm not 100% certain how exactly this affects them, but it is not good (they have been teetering for a while due to the financial crisia as well). BTW, yes, I agree it is silly we rely on them so much.
The Times reported the other day that this could wipe out up to 1/3 of UK pension funds, and Robert Peston is was waffling about the fact it could be enough to collapse parts of the economy - I don't actually subscribe to that (I ran some of their numbers and it's nowhere near that bad IMO) but if you get Brits glowering at you for a few weeks it might be because they believed it :)